Blue Buffalo Pet Products, Inc. (BUFF) Set to Announce Quarterly Earnings on Tuesday
Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of $0.25 per share for the quarter. Blue Buffalo Pet Products has set its FY17 guidance at $0.91-$0.94 EPS.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The business had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. During the same period last year, the business earned $0.19 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, analysts expect Blue Buffalo Pet Products to post $0.92 EPS for the current fiscal year and $1.04 EPS for the next fiscal year.
Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) remained flat at $28.66 during midday trading on Tuesday. 537,415 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $27.94 and its 200 day moving average price is $27.94. Blue Buffalo Pet Products, Inc. has a 12 month low of $21.51 and a 12 month high of $29.84. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 40.37 and a beta of 1.94.
Blue Buffalo Pet Products declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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In related news, insider William W. Bishop, Jr. sold 21,655 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $28.78, for a total value of $623,230.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at $1,250,000. The disclosure for this sale can be found here. Insiders sold 229,927 shares of company stock worth $5,965,929 over the last ninety days. 7.70% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Blue Buffalo Pet Products stock. The Manufacturers Life Insurance Company boosted its stake in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,070 shares of the company’s stock after acquiring an additional 533 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Blue Buffalo Pet Products were worth $138,000 at the end of the most recent reporting period. 88.28% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on BUFF shares. Zacks Investment Research downgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Robert W. Baird restated a “hold” rating and issued a $23.00 target price on shares of Blue Buffalo Pet Products in a research note on Friday, September 1st. BidaskClub upgraded shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Gabelli started coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 6th. They issued a “buy” rating and a $33.00 target price for the company. Finally, J P Morgan Chase & Co downgraded shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Blue Buffalo Pet Products presently has a consensus rating of “Hold” and a consensus price target of $29.55.
About Blue Buffalo Pet Products
Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.
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